金融发展、知识产权保护与技术创新产业化

Financial Development,Intellectual Property Protection and Industrialization of Technological Innovation

通过系统考察金融发展与技术创新产业化之间的关系。研究发现,金融规模、金融结构、金融效率显著提高了技术创新产业化水平,稳健性检验后,结论依旧可靠。机制研究发现,新产品开发水平的提升和激励是金融发展促进技术创新产业化实现的重要途径。同时,金融规模、金融结构和金融效率通过提高金融资本形成效率和金融资本配置效率从而实现新产品开发激励。进一步研究发现,引入知识产权保护力度指数发现,知识产权保护力度的增强不仅对提升技术创新产业化具有直接促进作用,而且能强化金融规模、金融结构和金融效率对技术创新产业化的促进作用。

This paper systematically examines the relationship between financial development and technological innovation industrialization.The study found that financial scale,financial structure,and financial efficiency have significantly improved the level of industrialization of technological innovation.After overcoming the endogenous nature,the conclusion is still stable.Mechanism studies have found that the improvement and incentives of new product development levels are an important way for financial development to promote the industrialization of technological innovation.At the same time,financial scale,financial structure,and financial efficiency can achieve new product development incentives by improving the efficiency of financial capital formation and the efficiency of financial capital allocation.Further research found that the introduction of the intellectual property protection intensity index can lead to the enhancement of intellectual property protection,whichnot only directly promotes the industrialization of technological innovation,but also strengthens the promotion of the industrialization of technological innovation in terms of financial scale,financial structure and financial efficiency.